aymond James purchased a non-participating whole life policy with a face amount of $300,000and selected...
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Finance
aymond James purchased a non-participating whole life policy with a face amount of $300,000and selected a 20-pay option. He is 35 years of age and he will have a paid-up policy at age 55. Which of the following are features offered by the guaranteed non-participating whole life policy?
1. Automatic premium loan
2. Cash Surrender Value ( CSV)
3. Reduced Paid-Up insurance and Extended Term insurance
4. Policy loans
5. Dividends
6. Flexibility to change or add new life insureds
| A. | 2, 3, 4, and 5 only | |
| B. | 2, 3, 4, and 6 only | |
| C. | 3, 4, 5, and 6 only | |
| D. | 1, 2, 3, and 4 only |
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